WESTFORD, MA, UNITED STATES, October 9, 2024 /EINPresswire.com/ — Server Market size was valued at USD 89.30 Billion in 2022 and is poised to grow from USD 97.6 Billion in 2023 to USD 198.81 Billion by 2031, at a CAGR of 9.3% during the forecast period (2024-2031).
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In the last few years, the server market is growing exponentially due to the increasing adoption of smartphones and the rising number of data centers globally. The market is expanding rapidly owing to the establishments of new data centers worldwide. Furthermore, many cloud service providers along with sectors such as IT and telecom, medical, banking, finance, insurance, defence, and government are advancing their server abilities to manage the increasing amount of data. Advancing IT structure is extremely vital for improving security, storage capacity, and processing speed, which are important for handling massive amount of data. Many users and service providers are shifting towards cloud servers due to the rise in applications with needs and high computational demands. Organizations are shifting to cloud-based servers for enhancing their global networking abilities while minimizing the expenses of operations and maintenance in IT systems. Moreover, the growing demand for investment in cooling systems by cloud service provider has become vital as physical servers are generating substantial amount of heat. This is increasing the popularities of server leasing and virtualization. These factors are increasing the growth of server market.
Increasing Move towards Hybrid Cloud Solutions to Increase Flexibility in Managing Data
The increasing adoption of hybrid cloud is revolutionizing the server market. This is because hybrid cloud is helping businesses to combine on-premises servers and private cloud settings. This method provides better flexibility, so that businesses can improve efficiency while managing control of vital and confidential data. Nowadays, businesses are opting for cost-efficient solutions without compromising security. This is one of the primary reasons that is increasing the popularity of hybrid cloud solutions. Cloud models have become an important part of IT strategies, which is boosting demand for versatile servers that can smoothly incorporate with cloud settings.
Growing Focus on Sustainability and Energy Efficiency to Reduce Power Consumption to Boost Growth in Next 4-5 Years
Today, people have become more environmentally conscious. This is increasing the emphasis on eco-friendly responsibilities, which is boosting the popularity of energy-efficient server technology. This is encouraging the data centers to invest in energy-saving solutions like liquid cooling, renewable energy sources, and server virtualization. These advanced technologies have the potential to minimize power consumption and carbon footprint. This is increasing the demand for sustainable IT infrastructure, because businesses are focusing on minimizing operational expenses along with achieving their sustainability objectives.
Latest Headlines to Follow in Server Market
The following are the key Server Market Trends that will shape the growth of the market in the next 5 years
• In March 2024, Dell Technologies and Nvidia went into a strategic collaboration at the GTC developers’ event. This objective of the partnership is to incorporate Dell’s hardware and software with Nvidia’s AI structure.
• In January 2023, Hewlett Packard Enterprise Size Development LP and Intel Corporation collaborated to increase its latest ProLiant server line. The goal of the collaboration is to develop technology that can support edge use cases for customers.
• In January 2023, Inspur unveiled their Inspur G7 server series, which will completely support 4th Gen Intel Xeon Scalable Processors. The latest offering will improve functionality, intelligent operation & maintenance, performance, and sustainability.
This Market has the Following Segments
Product
1. Blade
2. Micro
3. Open Compute Project
4. Rack
Enterprise
1. Micro
2. Small
3. Medium
4. Large
Channel
1. Direct
2. Reseller
3. System Integrator
4. Others
End Use
1. BFSI
2. Energy
3. Government & Defense
4. Health Care
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Key Players Operating in the Server Market
• Dell Technologies Inc. (US)
• Hewlett Packard Enterprise (HPE) (US)
• IBM Corporation (US)
• Lenovo Group Limited (China)
• Cisco Systems, Inc. (US)
• Huawei Technologies Co., Ltd. (China)
• Inspur Group (China)
• Fujitsu Limited (Japan)
• NEC Corporation (Japan)
• Oracle Corporation (US)
• Super Micro Computer, Inc. (US)
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Emergence of Hyperconverged Infrastructure to Improve IT Management to Drive Market for Next 10 Years
Companies are shifting towards hyperconverged infrastructure which is completely transforming the conventional server settings. Organizations are doing this by incorporating storage, networking, and computing resources into a unified system. This strategy is streamlining IT management, minimizing expenses, and improving scalability. Furthermore, businesses are also adopting HCI solutions to reduce workloads, advance data centers, and enhance operational flexibility. As organizations are aiming for increased speed, the demand for hyperconverged systems in increasing, revolutionizing the server settings.
Related Report:
Data Center Market
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Article originally published on www.einpresswire.com as High Demand for Enhanced Security to Propel Growth to USD 198.81 Billion by 2031
